Corteva, Inc. (NYSE:CTVA) Shares Sold by Foster Group Inc.

Foster Group Inc. cut its stake in Corteva, Inc. (NYSE:CTVA) by 22.8% in the fourth quarter, Holdings Channel reports. The firm owned 7,611 shares of the company’s stock after selling 2,248 shares during the period. Foster Group Inc.’s holdings in Corteva were worth $434,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Capital Advisors Ltd. LLC increased its position in shares of Corteva by 44.4% in the 3rd quarter. Capital Advisors Ltd. LLC now owns 566 shares of the company’s stock valued at $33,000 after acquiring an additional 174 shares during the period. First Financial Corp IN acquired a new stake in shares of Corteva during the fourth quarter worth about $35,000. Albion Financial Group UT boosted its position in Corteva by 112.6% in the fourth quarter. Albion Financial Group UT now owns 606 shares of the company’s stock valued at $35,000 after buying an additional 321 shares during the last quarter. Bangor Savings Bank increased its holdings in Corteva by 34.7% in the 3rd quarter. Bangor Savings Bank now owns 935 shares of the company’s stock worth $55,000 after buying an additional 241 shares during the period. Finally, Northwest Investment Counselors LLC acquired a new stake in Corteva during the 3rd quarter valued at approximately $56,000. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Wall Street Analysts Forecast Growth

CTVA has been the topic of a number of research reports. UBS Group cut their price objective on shares of Corteva from $74.00 to $73.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. KeyCorp reduced their price objective on Corteva from $69.00 to $68.00 and set an “overweight” rating for the company in a research note on Friday, January 10th. Citigroup lowered their target price on Corteva from $70.00 to $69.00 and set a “buy” rating on the stock in a research note on Wednesday, December 18th. Bank of America boosted their price target on Corteva from $67.00 to $69.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $70.00 price objective (up previously from $69.00) on shares of Corteva in a research note on Friday, November 8th. One analyst has rated the stock with a sell rating, four have given a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $65.94.

Corteva Stock Performance

Shares of NYSE:CTVA opened at $64.26 on Wednesday. The business’s 50 day moving average price is $59.71 and its 200-day moving average price is $57.61. Corteva, Inc. has a 1 year low of $45.30 and a 1 year high of $64.86. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.50 and a quick ratio of 0.96. The firm has a market capitalization of $44.16 billion, a PE ratio of 64.90, a P/E/G ratio of 1.63 and a beta of 0.77.

Corteva declared that its board has authorized a share repurchase program on Tuesday, November 19th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the company to repurchase up to 7.5% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

Corteva Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date is Monday, March 3rd. Corteva’s payout ratio is 68.69%.

Corteva Profile

Corteva, Inc operates in the agriculture business. It operates through two segments, Seed and Crop Protection. The Seed segment develops and supplies advanced germplasm and traits that produce optimum yield for farms. It offers trait technologies that enhance resistance to weather, disease, insects, and herbicides used to control weeds, as well as food and nutritional characteristics.